Posted November 3, 2014
The Hill (Jack Gerard): With zero precincts reporting, we can confidently project American energy is a landslide winner in the 2014 midterm elections.
In many races, both Republican and Democratic candidates have gone out of their way this year to embrace pro-energy policies – to the point that it’s been almost impossible to tell who’s wearing red or blue on the campaign trail.
“When I disagree with the president, I stand up to him. Whether it is on oil or support for the Keystone XL pipeline.” That’s Virginia Democratic Sen. Mark Warner. In North Carolina’s Senate race, Democratic Sen. Kay Hagan made a point of saying “I disagree with the president. I think we need to build the Keystone pipeline.” That’s one thing she has in common with her Republican opponent, Thom Tillis, who states, “I strongly support the construction of the Keystone pipeline and favor expanding offshore drilling to make our nation less dependent on foreign oil.
Posted October 30, 2014
Reuters: U.S. chocolate demand may get an extra boost from an unlikely source this Halloween: the U.S. shale revolution.
With an abundance of crude oil due to the country's fracking boom pushing average U.S. retail gasoline prices to their lowest in four years, consumers have spare change to buy sweets at gas station stores, Hershey President and Chief Executive Officer John Bilbrey said on Wednesday.
"You could say that we benefit because people aren't spending as much at the pump and they're going inside," Bilbrey said in a conference call with investors to discuss quarterly earnings.
Posted October 29, 2014
The Wall Street Journal: A planned Trans- Canada Corp. oil pipeline designed to ship crude from Western Canada to Eastern Canadian refineries could also be used to access the Gulf Coast, creating an end-run around U.S. permitting delays for the Keystone XL pipeline, according to the company’s chief executive.
TransCanada’s proposed 1.1 million-barrel-a-day Energy East pipeline has been positioned in Canada as a nation-building project to connect Alberta’s landlocked oil sands with refineries in Quebec and coastal New Brunswick. But Chief Executive Russ Girling said it would also open up a new route to ship heavy crude by tanker to refineries on the Gulf Coast without requiring U.S. approval, unlike the more direct Keystone XL route from Alberta to Texas.
“We can actually go all the way to the Gulf Coast without a presidential permit,” he said in an interview. “Once we’re on the water, we’ll show up just like any other crude oil in the world in the Houston ship channel.”
Posted October 28, 2014
Real Clear Politics: Few policy objectives over the last half-century have proven as tantalizing for presidents as the call to achieve energy independence.
In 1973 -- as a gasoline shortage consumed the nation -- President Richard Nixon outlined Project Independence 1980, “a series of plans and goals set to insure that by the end of this decade, Americans will not have to rely on any source of energy beyond our own.” Gerald Ford, in his 1975 State of the Union address, called for “a massive program” to ease demand and increase supply “to achieve the independence we want by 1985.” Jimmy Carter, more modestly, aimed for the United States to cut its dependence on foreign oil by half by the end of the 1980s.
Ronald Reagan, George H.W. Bush, Bill Clinton, George W. Bush, and Barack Obama all set similar goals at different points in their presidential campaigns or presidencies. Typically, their political opponents did too. Little serious progress toward those goals was achieved during most of their terms in office.
Posted October 27, 2014
Rigzone: The economic benefits to the United States from the energy industry have more than doubled in just the past ten years, even after accounting for inflation, according to a new study by The Perryman Group. The growth in the industry is worth about $1.2 trillion in gross product each year, the study noted, adding that the growth in the oil and gas industry since the economic recession has been “dramatic.” In fact, since the start of the economic recovery, the energy industry has contributed about 30 percent of the total job growth for the nation, Dr. Ray Perryman, president and CEO of The Perryman Group, said.
While it is generally recognized that a thriving oil and gas sector helps to create new jobs within and outside of the energy sector, it is less well-recognized just how important the industry is to overall employment. However, the study shows just how large a role the energy industry plays in the number of new jobs in the country.
Posted October 23, 2014
Bloomberg: U.S. companies will export more energy than they import by 2025 as shale oil and gas production keeps climbing and the transportation sector becomes more efficient, Wood Mackenzie Ltd. said in a note today.
Horizontal drilling and hydraulic fracturing in hydrocarbon-rich layers of shale rock have boosted U.S. oil and gas production by 42 percent in the past seven years. The U.S. vehicle fleet will become 40 percent more energy-efficient by 2030, said James Brick, a senior analyst at the Edinburgh-based research firm.
“A country can achieve energy independence through two channels,” Brick said in the note. “It can either produce more or consume less, and the U.S. is doing both.”
Posted October 21, 2014
Forbes (Robert Bradley Jr.): The environmentalist campaign to block the Keystone XL pipeline has run out of gas.
Canada’s largest energy firm, TransCanada, has announced plans to create an alternative to KXL that lies entirely within Canada’s borders – a pipeline that would transport crude from Alberta’s oil sands to our northern neighbor’s east coast.
Known as Energy East, the new project presents clear proof that, even without a U.S. pipeline, the Canadian oil sands will continue to be developed. By blocking KXL, the fourth and final leg of a 2,151-mile transnational project, green activists are simply denying Americans the project’s wide-ranging benefits. The U.S. State Department counts42,000 new jobs, plus the opening of a new way to get oil from Montana and North Dakota to Gulf Coast refineries.
If the Obama Administration doesn’t approve the 800,000 barrels/day, Alberta–U.S. Gulf Coast pipeline soon, an historic opportunity to improve the American economy and strengthen our country’s energy infrastructure will be squandered.
Posted October 15, 2014
The State Journal (West Virginia): The U.S. Energy Information Administration's Drilling Productivity Report, released Oct. 14, revealed that the Marcellus Shale play is anticipated to produce more gas than other reported regions in November.
The Marcellus region is expected to produce 16,045 million cubic feet of gas per day in November 2014, reflecting a 217 mcf/day increase from October, making it both the highest-producing region among the Utica, Bakken, Eagle Ford, Haynesville, Niobrara and Permian basins.
Posted October 14, 2014
Posted October 13, 2014
Detroit Free Press: Ground zero for America's "shale revolution" in gas and oil production, North Dakota is also the reigning title-holder for lowest unemployment among the 50 states.
There were more unfilled jobs in September than job applications within the state, where oil field workers can make six-figure salaries and even the fast-food restaurants dangle hiring bonuses of $300 or more. The state has been recruiting specifically from Michigan for workers of all stripes and skill levels — hoping to entice entire families to relocate and grow roots.
North Dakota's official 2.8% jobless rate in August is essentially full employment, allowing just about anyone who wants a job to get one. At the same time, Michigan's rate of 7.4% was stuck above the 6.1% national average. (The national rate was 5.9% in September.)
North Dakota's roaring economy has been the envy of state governors and, for proponents of fracking, a shining success story for how an energy boom can produce a job boom, even for workers in professions that aren't directly related to extracting natural gas and oil.